He said that Azerbaijan's foreign currency reserves are equal to the country’s GDP. “The foreign debt is less than 20% of the GDP. These achievements of Azerbaijan are also assessed by international organizations. Azerbaijan ranks 35th in the Global Competitiveness Report 2017-2018 published by the Davos Economic Forum,” said Aliyev.
The president noted that Azerbaijan is an initiator and active participant of international projects. “Today we implement the Southern Gas Corridor project together with our partners. This is one of the largest infrastructure projects in the world. Azerbaijan and Turkey signed an agreement on TANAP pipeline, a major part of the Southern Gas Corridor in 2012 in Istanbul and this pipeline will be put into operation next year. The Baku-Tbilisi-Kars railway which will soon be commissioned will be the shortest route between Europe and Asia. Azerbaijan invests heavily in the creation of the East-West and North-South transport corridors. These transport corridors will open new opportunities for the economic development of Eurasia,” said the Azerbaijani president.
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The 9th Summit of the Developing Eight Organization for Economic Cooperation (D-8) is underway in Istanbul.
Azerbaijani President Ilham Aliyev who is attending the Summit as a special guest, has addressed the summit.
Later on, reports of the 16th, 17th and special sessions of the D-8 Council were heard, and the issues on the agenda were discussed.
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